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Why Doctors Make Terrific Entrepreneurs?

Discussion in 'Doctors Cafe' started by Hala Ali, Oct 9, 2019.

  1. Hala Ali

    Hala Ali Active member

    Sep 11, 2019
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    Entrepreneurship is increasingly being celebrated and encouraged by governments around the world.

    It has become a very promising field in the past few years; not everyone has what it takes to live out of the box although everyone claims to think out of the box.

    It takes a hard work to be a successful entrepreneur as it takes years of training to stand on your own feet as a physician. Health care as an industry is in a desperate need for being improved, to reach that we need more physician entrepreneurs who can detect a problem, take the leap to launch an idea to solve it.

    It doesn’t mean we need doctors to quit medicine and become entrepreneurs; a match between the two areas is preferred

    “Doctors are lousy businessmen,” and they should focus on medicine and leave the field of business for someone else, nowadays this doesn’t make any sense.

    Consider that we face a health care problem, no one can feel it better that a physician. We meet people who suffer from different diseases on a daily basis so we have the motive to work on the problem until we reach a solution that satisfy the needs of our patients.

    There are various reasons why physicians make terrific entrepreneurs:

    · When you practice medicine for a long time, you get used to avoiding your previous mistakes that’s one of the most important qualities a successful entrepreneur should have.

    · Research is the ultimate base of entrepreneurship, another area where physicians are the best at.

    · The risk versus the benefit concept: doctors follow a very precise way of thinking as if they don’t, people die. They evaluate each step of the process of healing; if the chances of doing harm exceed the benefits for the patient, they choose not to interfere.

    · Commitment to continuous learning, when you register as a medical student, you sign up for a process of education that never ends. That is much needed as a successful entrepreneur because of the very dynamic market that requires a new version of your mindset to cope with.

    · Personal skills: doctors deal with a very wide range of personalities on a daily basis successfully, the thing that qualifies them to excel at business.

    · Their dedication for helping people with the courage needed for admitting mistakes guarantee they can reach sustainability of their projects as entrepreneurs.

    · Nothing is certain. That is a medical rule, when you are a doctor; you try different types of modalities until you cure your patients. You deal with uncertainty with ease.

    Here is some advice on how to become a successful medical entrepreneur:

    · Build a good relation with everyone: when it comes to business, you will need more than a good idea to make it happen. Remember that the health care market is competitive and dynamic.

    · Choose the right team: no one succeeds alone you need a qualified group of people to have a sustainable project.

    · Market research is the key: even if you have a perfect idea, you need to research the market in order to be convinced.

    · Don’t fall in love with your idea.

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